The discovery at Luz Maria, coupled with the confirmation of the size and grades of the Cana Brava 1 prospect, is a major development for the Company. Further target definition work and initial scout drilling is currently being planned by the Company's technical team to test this new discovery located in one of the world's premier porphyry belts.
Highlights of the Luz Maria Discovery
Cu-Mo porphyry target defined by a 2.7 km by 1.5 km phyllic and potassic alteration footprint.
Consistent anomalous grades up to 0.07% Cu and 0.06% Mo from multi-phase intrusions.
Large coincident magnetic anomaly extending under the sedimentary cover.
Discussion of the
The Cana Brava 1 prospect, located on the
Western Metallica also announces positive results from the preliminary processing and qualitative interpretation of the recently acquired unmanned aerial vehicle (UAV) magnetic survey covering approximately 58 km2. The UAV magnetic survey has identified two zones of high susceptibility, likely intrusive stocks, with zones of demagnetization around the intrusives. The geophysical results at Luz Maria, consistent with field mapping, confirm the potential for a large porphyry Cu-Mo cluster under the sedimentary and colluvial cover, providing valuable targets for further exploration. The company is now planning a follow-up IP/Resistivity survey to further define the porphyry centres and drill targets.
Western Metallica's 2024 exploration program will focus on confirming the presence of a large porphyry system at Cana Brava. Environmental baseline studies supporting the drill permitting process have now been completed at Luz Maria. The recent geophysical work, which outlined several highly-prospective porphyry targets at Cana Brava, coinciding with Cu-Mo anomalies at both
Background
Western Metallica holds the option to acquire 100% of the mineral claims, rights and interests in two Cu-Mo projects located in
Quality Assurance and Quality Control
Sample preparation and analyses will be conducted according to standard industry procedures. Rock samples are crushed, split, and pulverized prior to analysis of Gold by fire assay and Atomic Absorption and multi-elements by ICP-AES after four acid digestion. Analytical performance is monitored by means of certified reference materials (CRMs), coarse blanks, coarse and pulp duplicate samples. Samples are prepared and analysed in SGS lab in
About
Western Metallica is an
Cautionary Note Regarding Forward-Looking Statements
This press release contains statements that constitute 'forward-statements.' Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.
Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. When used in this press release, the words 'estimate', 'project', 'belief', 'anticipate', 'intend', 'expect', 'plan', 'predict', 'may' or 'should' and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include information relating to the planned drill program and the development of the Company's projects and other mining projects and prospects thereof, the impact of the management additions on the Company and the potential and economic viability of the Cana Brava and Turmalina Projects. Such statements and information reflect the current view of the Company. Risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Contact:
Chief Executive Officer
Email: gduras@westernmetallica.com
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